White & Case has delivered another record-breaking year, posting an 8.5% revenue increase for 2025 to reach $3.6 billion Legal Business — and signalling loudly that this is very much a firm still in growth mode.
Profits per equity partner hit an all-time high of $4.41 million, a 10% jump that will keep the partnership satisfied. Revenue per lawyer climbed 6% to $1.4m, while net income increased by 4.8% to $1.5 billion.
The numbers weren’t conjured from thin air. Half the firm’s revenue was generated by cross-border work, which is White & Case’s bread and butter, with the firm’s M&A machine running hard.
The M&A team worked on deals worth $284.7 billion across 2025, placing it 13th in the London Stock Exchange Group’s legal adviser rankings by deal value. Standout mandates included the Deliveroo/DoorDash takeover and advising Cathexis on its $5.8 billion sale of data centre developer Yondr.
As Law.com reports, the firm’s headcount was mostly flat, growing 1.7% to 2,643 FTE attorneys, meaning productivity gains are doing the heavy lifting, not headcount inflation.
Expenses climbed 10% to $1.8 billion, slightly outpacing revenue growth for the firm, a cost pressure story running through Big Law right now is very much present here too.
But chair Heather McDevitt isn’t hitting the brakes for White & Case. The firm continues to push toward its target of $5 billion by 2028, a target that looked audacious when announced and now looks considerably more plausible.
Vice chair Oliver Brettle said January performance was up on 2025, and sentiment was “positive for the year ahead.”
From $3.6 billion to $5 billion in three years. The clock is ticking — but right now, White & Case has every reason to be confident.
